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The collapse in world oilprices in the second half of 2014 will have only a moderate impact on the fast-developing low-carbon transition in the world electricity system, according to research firm Bloomberg New Energy Finance. However, the slump in the Brent crude price per barrel from $112.36 on 30 June to $61.60
I saw an interesting headline this week regarding an industry I don’t closely follow, the oil industry. Yes, we write daily about cutting oil use by driving electric vehicles. However, I don’t follow what’s happening in the oil industry or trends in the price of oil. But “Oilprices slide.
Oil is a strategic commodity second to none—it underlies the global economy and even the American way of life. Of course, other countries benefit from this fact, with about $900 million flowing out of the US to buy foreign oil every day, and about 40% of that going to OPEC. [ Source: EIA. Click to enlarge.
Change in primary oil demand by sector and region in the central New Policies Scenario, 2010-2035. Under the WEO 2011 central scenario, oil demand rises from 87 million barrels per day (mb/d) in 2010 to 99 mb/d in 2035, with all the net growth coming from the transport sector in emerging economies. Click to enlarge. billion in 2035.
Chevron’s focus on optimizing the thermal management of the Kern River field has resulted in a steady drop in the steam:oil ratio (barrels steam water per barrel oil), resulting in improved economics of the field even with slowly declining production. Data: California DOGGR. Click to enlarge. Source: Chevron. Click to enlarge.
As Ukraine weathers a continued Russian invasion, sanctions are causing high oilprices, resulting in high gas costs at the pump for consumers. According to Oil Price.com, the event has many wondering if high gas prices could further accelerate Tesla’s rising stock prices and the overall adoption of electric vehicles.
Third, significant emissions benefits, particularly from vehicles with large battery packs, only begin to accrue with clean electricity. Fourth, CO 2 prices as high as 100 $/t do not provide sufficient incentive for vehicle electrification. No EDV deployment occurs with high battery costs, low oilprices, and no CO 2 policy.
One casualty of the oilprice downturn could be the megaproject. For years, as conventional oil reserves depleted and became increasingly hard to find, oil companies ventured into far-flung locales to find new sources of production. The collapse of oilprices, however, could kill off the megaproject.
Rising OilPrices Lead to Investments in Natural Gas. Oil markets are traditionally sensitive to a pick up in economic activity. As the economy continues to slowly improve over the next 12 months, Cascadia predicts that oil will hit $100 per barrel. There are too many loopholes, including free permits and. extraction.
Yonhap said that the companies are the partnership early due to weak market demand for battery-powered vehicles amid limited infrastructure and falling oilprices. Both planned to invest about €270 million (at the time, around US$359 million) in the JV over five years. billion won (US$13.87 billion won (US$13.87
In addition to technological advances, price developments play a key role in determining overall energy usage, Worldwatch notes. World crude oilprices more than tripled between 2004 and 2008—the fastest rise since the oil crisis of the late 1970s—contributing to the sharp decline in energy intensity during that period.
Fleets across the country are trying to reduce their vulnerability to spikes in oilprices and are finding themselves increasingly subject to greenhouse gas emissions limitations at the federal, state and local levels.
NTEA’s additional anecdotal evidence suggests that though alternative fuel interest may ebb and flow along with fluctuating oilprices, the trend will likely turn upward in the long run. It is highly likely that clean energy solutions will remain relevant due to oilprice instability.
The International Council on Clean Transportation (ICCT) has released a report prepared by the consultancy Cerulogy that explores the potential market and environmental impacts of increased capacity for renewable diesel produced by hydrotreating oils and fats in the US. —from the report, “Animal, vegetable or mineral (oil)?”.
With potential shortfalls and price increases for natural gas, higher oilprices due to unrest in the Middle East and fresh concerns over the safety of nuclear energy, clean-coal technology is becoming even more attractive. —H.S. Bawa, Vice Chairman of Zuari.
Established hydroprocessing technologies to produce aviation fuels from natural oils. supply chains for sustainable aviation fuels utilizing oils from oilseed crops such as camelina, as well as algae and biomass. Natural bio-oils have carbon chain lengths that are in the diesel range, 16-18 carbon atoms in the hydrocarbon.
The oilprice shocks of the 1970s led the Brazilian government to address the strain high prices were placing on its fragile economy. Brazil, the largest and most populous country in South America, was importing 80% of its oil and 40% of its foreign exchange was used to pay for that imported oil.
The brief concentrates on six topics: climate change policy, carbon capture and storage policy, oil security policy, energy-technology innovation policy, electricity market structure, and infrastructure policy. The US government must place an initial price on US greenhouse-gas emissions, either through a cap-and-trade mechanism or a tax.
It may just delay the adjustment for oil markets. “It E&P companies could resort to loans in order to pay off maturing debt, not unlike charging one credit card to wipe clean the debt on another. The ratings agency cut its forecasted oilprice for 2016 to just $48 per barrel. rig count has declined by more than half, U.S.
The Annual Energy Outlook 2015 (AEO2015) released today by the US Energy Information Administration (EIA) projects that US energy imports and exports will come into balance—a first since the 1950s—because of continued oil and natural gas production growth and slow growth in energy demand. Tcf in the High Oil and Gas Resource case.
The horizontal red lines show the comparable price of gasoline (before tax, refining margin 0.3 $/gal, exchange rate: 1 € = 1.326 $) with crude oilprices 100 $/bbl and 150 $/bbl. VTT’s test-rig for the Ultra-Clean Gas process. Summary of levelized production cost estimates of fuel (LCOF) for the examined plant designs.
AEO2013 offers a number of other key findings, including: Crude oil production , especially from tight oil plays, rises sharply over the next decade. Domestic oil production will rise to 7.5 Biofuels grow at a slower rate due to lower crude oilprices and. Overall findings. Biomass and biofuels growth is slower.
Projected output of the Clinton Project is a maximum 13,000 barrels of diesel per day (15,800 barrels of oil equivalent per day or 5.3 Projected output of the Clinton Project is a maximum 13,000 barrels of diesel per day (15,800 barrels of oil equivalent per day or 5.3 Gas Conditioning.
The Gas Company currently produces synthetic natural gas from naptha and hydrogen, will plans to include plant oils and animal fats as feedstocks in the future. What’s happening here [in terms of energy prices] is happening elsewhere in the world. The US is enjoying a reprieve from high oilprices in form of abundant natural gas.
Performance in the study is measured by such metrics as: (1) required selling price of the fuel; (2) crude oilprice when the process will become economically viable; (3) the Well-to-Wheels (WTW) life cycle GHG emissions profile of the diesel fuel; and (4) the water usage associated with the facility. —White and Gray.
Thanks to Covid-induced supply chain issues and Russia’s war with Ukraine, oilprices have surged to over $100/barrel at times. That and the dearth of refining capacity (converting crude oil to gasoline/diesel) has pushed the price of gasoline and diesel to record highs.
The fallout of the collapse in oilprices has a lot of side effects apart from the decline of rig counts and oil flows. Williston is coping with $300 million in debt after having leveraged itself to buildup infrastructure to deal with the swelling of people and equipment heading for the oil patch.
The report notes that these estimates are highly subject to variation and could be altered by unexpected shocks such as a major oilprice spike or by planned conditions such as aggressive incentive programs.
Whereas fuel cost used to be a major driver for fleet managers, the lowering of oilprices and the availability of low-cost natural gas has reduced this concern, Navigant notes. —“ Medium and Heavy Duty Vehicle Technologies ”.
Current high prices of food, oil and many other resources are indications of increasing scarcity. Thus, high energy prices lead to high food prices, as transport and fertilizers become more expensive. Therefore, the dependency on oil may be replaced by a dependency on lithium. Source: PBL. Click to enlarge.
biofuel made from cellulose, algae, duckweed, or cyanobacteria) could mitigate the current elevated risk of investing in the industry that is retarding its advance, according to a new paper by a team from the International Council on Clean Transportation (ICCT) and Johns Hopkins University.
The Red Rock process begins with the gasification of woody biomass to produce synthesis gas, which is then is cleaned and sent to a Fischer-Tropsch unit where it is converted to liquid hydrocarbons. Departments of Agriculture, Energy and Navy, is scheduled to break ground this fall in Lakeview, Ore.
A commercially viable OCM process—which has been sought for some 30 years— would decouple the production of mainstream chemicals and fuels from crude oil and its current price instabilities, along with reducing energy consumed for processing. Today this molecule is made from oil, by a process known as steam cracking.
The Annual Energy Outlook 2011 (AEO2011) Reference case released yesterday by the US Energy Information Administration (EIA) more than doubles the technically recoverable US shale gas resources assumed in AEO2010 and added new shale oil resources. US crude oil production increases from 5.4 World liquids consumption grows from 83.7
Thanks to Covid-induced supply chain issues and Russia’s war with Ukraine, oilprices have jumped to over $100/barrel. That and the dearth of refining capacity (converting crude oil to gasoline/diesel) has pushed the price of gasoline and diesel to record highs.
Another challenge was, at first sight, the impact of the 50%-plus collapse in the oilprice in the second half of last year. Oil and renewables do not directly compete for power investment dollars. Europe was the first mover in clean energy, but it is still in a process of restructuring those early support mechanisms.
Thanks to Covid-induced supply chain issues and Russia’s war with Ukraine, oilprices have jumped to over $100/barrel. That and the dearth of refining capacity (converting crude oil to gasoline/diesel) has pushed the price of gasoline and diesel to record highs.
At a February 2018 meeting, an IMO-subcommittee announced a proposal to ban the carriage of non-compliant bunker fuel (fuel that exceeds the 0.50% sulfur limit) aboard ships that have not installed on-board ship scrubbers (exhaust gas cleaning systems), Barrow said. —Kurt Barrow.
A crude oilprice of US$100/bbl results in an approximate cost of €0.56/L Biomass is pyrolized to a pyrolysis oil. The pyrolysis oil is mixed with pyrolysis coke from the process to create a biocrude slurry for transport and subsequent gasification to syngas and subsequent catalytic conversion to chemicals and/or fuels.
By preparing now for a future of scarce world oil supplies, we can build an economy with a more resilient foundation for jobs and prosperity. the buffer between supply and demand is much too small to absorb shutdowns of even a small part of the world's oil demand." A flex fuel plug-in car could be nearly oil free.
The International Council on Clean Transportation (ICCT) has released its annual update on the fuel efficiency of US airlines. A stronger correlation between fuel efficiency and profitability was observed in 2014 than in 2013, despite a sharp fall in oilprices in the latter half of the year. Earlier post.)
The DOE-QTR defines six key strategies: increase vehicle efficiency; electrification of the light duty fleet; deploy alternative fuels; increase building and industrial efficiency; modernize the electrical grid; and deploy clean electricity. Vehicle efficiency has the greatest short- to mid-term impact on oil consumption.
Methanol is a clean-burning, high-octane fuel component, as the oxygen present in methanol aids in more complete fuel combustion. MTG units involve high capital costs and are only cost-competitive when oilprices are high.
DNV and GL merged in September 2013 to form DNV GL—the world’s largest ship and offshore classification society, the leading technical advisor to the global oil and gas industry, and a leading expert for the energy value chain including renewables and energy efficiency. Ship electrification and renewables.
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